/biz/ - Business & Finance

Used to work at Best Buy. Every once-in-a-while, I go through their subreddit just to get a feel for company morale (and don't look at me like that, the sub was the only way to get notice about the annual, limited quantity, employee-only TV promotions before they ran out). I encourage anyone who has misgivings about the cellar-boxing strategy to go check it out. Even the wagies can smell something is up. I'm pretty sure there are PE connections on the BoD. The company was really really good (for both employees and customers) for about 4-5 years before the pandemic; they brought in a CEO who turned things around with good deals, supply train improvements, training, incentives, etc. Then he left and they replaced him with the CFO, and I wish I could say that it's just been cut after cut since, but the truth is that it started before she actually started the role. So, I'm forced to consider a sad conclusion, which isn't JUST that they're driving the company into the ground on purpose. It's that the originally turnaround was probably orchestrated specifically to raise valuations for the impending short. There's a chance that it was a massive, multi-year pump-and-dump from the get-go.